Wednesday, October 16, 2013

What is the future of money? Money developed for multiple needs. The dominant explanation is that money developed for trading when bartering wasn't sufficient. But another big boost was so that governments could more easily collect taxes. As governments grew so too did financial companies. Their symbiotic arrangement is clear around the world. With the current model of money as controlled by governments, money has become a global market as trade spread. Modern money is a high speed commodity in a global financial marketplace. Money spans the centralized markets of individual countries to form a network of international markets. What's next? Will money switch to a distributed model if money becomes electronic? Imagine a world where bitcoins are the preferred currency for purchasing. How will governments tax? Will national tax laws survive in a world where the money isn't controlled by a nation? Will national debts be supported if nobody wants national currencis?

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